BOJ governor Haruhiko Kuroda speaks in parliament
- Expects consumer inflation to gradually accelerate towards 2%
- Japan's economy has improved significantly since 2013
- Huge expansion of monetary base in itself won't immediately stimulate economy
The usual overly-optimistic comments about inflation coming out there from Kuroda. Once again, it must be said they are nowhere near getting inflationary pressures close to their 2% target and they may never will during his second (current) term as BOJ governor.
As for 'significant improvement' in the Japanese economy since 2013, I'd like to know how he defines 'significant' because I don't really see it. Mind you, Japan posted an annual GDP growth of 2.0% in 2013.
Here's a look at quarterly GDP growth in Japan. We'll get Q4 preliminary data next Wednesday.
